Prince George's County Couple Building Community And Generational Wealth Through Franchising
Since entering the franchise world in 2018, the Magbys now own four Tropical Smoothie Café franchises — two in Washington, D.C., and two in Maryland, with the newest location opening in 2023, across from their alma mater, Morgan State University, in Baltimore. Baltimore is also home to a Phenix Salon Suites franchise, which they purchased in 2022.
Five franchises in five years, with more than one brand, is an impressive accomplishment thatknew our readers would want to hear more about. Alesha agreed to share more about their journey, how they plan to expand their portfolio, and advice for others looking to build community and generational wealth through franchising.
BLACK ENTERPRISE: What drew you to the Tropical Smoothie Café (TSC) and Phenix Salon Suites brands?
Alesha Magby: With Tropical Smoothie Café, we were loyal customers before even considering franchising. A location opened in our neighborhood, and it quickly became part of our weekly routine. Every Saturday morning, after our workout, we'd stop in to grab a smoothie and share a wrap. That small ritual—just the two of us enjoying something healthy and consistent—lasted for over a year and made the brand feel personal to us. When we finally decided to explore franchising opportunities, Tropical Smoothie Café was at the top of our list. It aligned perfectly with how we live and serve, offering healthy, delicious options in a welcoming environment. It wasn't just a smart business move but a natural extension of something we loved.
We were drawn to Phenix Salon Suites because it represents something bigger than just a business; it's about empowerment. This model allowed us to support individual entrepreneurs—stylists, estheticians, barbers, and beauty professionals, by helping them become business owners in their own right.
We loved the idea of providing beautiful, fully equipped salon spaces where professionals could run their businesses flexibly and independently, without the massive overhead of opening a traditional salon. It felt like a perfect fit for our values, offering real people a path to ownership and stability. There was also strong demand in the communities we serve. The beauty and wellness industry continues to grow, and many professionals seek private, modern spaces offering more control and safety. Phenix Salon Suites because it allowed us to diversify our portfolio while directly impacting entrepreneurs' lives, especially women and minority-owned businesses, by helping them build something of their own within a supportive, high-quality environment.
Diversifying
BE: I understand you're growing your portfolio with two new franchise brands: Einstein Bro. Bagels and Jersey Mike's. What was it about those brands that drew you to them?
Magby: Yes, we are excited about bringing Einstein Bros. Bagels back to Prince George's County, MD, through a franchise development deal we solidified with the brand, and we've also signed a one-store deal with Jersey Mike's.
As experienced multi-brand franchisees, we recognize the value of strong, innovative concepts that fit well into our existing portfolio and resonate with the communities we serve. Einstein Bros. Bagels offers a high-quality, fast-casual breakfast and lunch experience, which was missing in several of our local markets, especially in Prince George's County, where we grew up.
The brand's commitment to fresh ingredients, warm hospitality, and ability to drive substantial morning traffic made it a natural complement to our other franchises.
We were super fans of Jersey Mike's before we ever thought of franchising with them. For years, our family gatherings weren't complete without a Jersey Mike's catering box on the table.
During various International Franchise Association (IFA) events, we would visit the Jersey Mike's booth to network and genuinely rave about our love for the brand. As we looked for more ways to diversify our portfolio, the conversation with the Franchise Development team shifted from raving fans to potential franchise partners.
What sealed the deal was the culture. The Executive Board reminded us of what we loved about Tropical Smoothie Café: a strong, values-driven team that was welcoming, professional, and truly wanted you to feel like part of their family. The support, the people, and the brand integrity all aligned with our standards for partnership and growth.
BE: Funding is always a topic people are curious to know about. Can you share a little about how you've funded your portfolio?
Magby: Funding is always tricky; there's no easy path. We've learned how to navigate it by being resourceful, persistent, and proactive. Traditional banks weren't always the best fit for us, so we started working with commercial lenders who better understood the needs of franchise businesses. We also did the legwork to find and apply for local grants and state funds specifically set aside for small businesses and entrepreneurs like us. Funding opportunities exist, but you must be willing to dig. That means researching constantly, asking questions, showing up at state and local offices, and confidently telling people what you're trying to build. When you're clear about your vision and refuse to take 'no' for an answer, the information and the support eventually come.
Advice from an Expert
BE: What is your advice on building a successful, diverse portfolio, and how does your success inspire others?
Magby: Building a diverse franchise portfolio starts with understanding your strengths and your long-term vision. You want to choose brands that not only complement each other operationally but also reflect your values and lifestyle. We have six key pieces of advice: 1) Start with what you know and love, 2) Diversify smartly, not just for the sake of variety, 3) Invest in strong leadership and systems, 4) Know your numbers and cash flow, 5) Leverage every resource—grants, lending partners, and state programs, and 6) Stay engaged with the franchise community.
As for inspiring others, we don't always look at ourselves as 'successful' in the traditional sense, because to us, success is a long journey, not a destination. There's still so much we must learn; we rarely feel we have all the resources or answers. Every day presents something new, a challenge to overcome or a lesson we didn't see coming. This path is not easy by any stretch. If anything is inspiring about our story, it's that we've done it together. The real success isn't in the number of units we operate or the brands we represent; it's in being true teammates and partners, in both life and business. That's the foundation of everything we've built. We hope others see that you don't have to have everything figured out to get started. What matters most is showing up daily, trusting each other, and building on your strengths with relentless determination. If our journey shows anything, you can create something powerful when you lead with purpose, support each other, and never stop learning.
RELATED CONTENT:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Forbes
an hour ago
- Forbes
5 Business Valuation Questions Every Owner Should Ask
If you're banking your future on selling your business, it's time for a reality check. Think your business is worth millions? Think again. A recent survey revealed that 96% of small business owners don't know what their business is actually worth. And most? They overestimate their business valuation, sometimes by six figures or more. If you're banking your future on selling your business, it's time for a reality check. In this article, we're cutting through the mistakes, misunderstandings and confusion around small business valuations. I'm answering the five most common questions business owners ask about how valuation. Whether you're looking to sell this year or in three years or never, as a business owner this article will give you the clarity to make smarter, more strategic decisions starting today. Question 1. 'Why Can't I Just Estimate My Business's Value Based on Revenue or Gut Feel?' Let's start with the classic: 'My friend sold their agency for 4X revenue. I've worked hard. I know what mine's worth.' I hear this every week. But here's the truth: your effort, your gut feeling, your desired retirement number,… none of those define market value. It's not personal. It's just business. Common (but unreliable) ways business owners guess their business value: The problem? None of these reflect what a buyer is actually willing to pay. Every business is different. What sells for 4x profit in one industry might barely scrape 2x in another. Factors like customer churn, owner involvement, recurring revenue, and market risk all matter, often more than revenue or profit itself. If your business can't run without you, it's not as valuable as you think. Action Step: Separate your business's emotional value from its market value. Then use a valuation method grounded in actual data, not guesswork. Question 2. 'How Accurate Is a Valuation Tool I Found Online?' Let's be honest: Free often sounds too good to be true. So how reliable is an online valuation tool, really? Most owners assume a free valuation is just a gimmick. But not all tools are created equal. For example, the valuation tool I always recommend business owners isn't based on guesswork. It pulls from over 4,500 real-world business exits, totaling more than $30 billion in deals across six continents. It runs your numbers against patterns from actual sales, looking at revenue, profit margins, industry trends, and more. Does that mean it's a full-blown appraisal? No. But is it a powerful, independent starting point for small business owners? Absolutely. Action Step: When you use a valuation tool, be honest about your business's profit, industry, customer base, and growth rate. It's not about impressing anyone. It's about getting a real picture of where you stand and what you can improve. Question 3. 'Why Is My Valuation Lower Than I Expected?' This one stings. You plug in the numbers, hit 'calculate,' and the result feels like a punch in the gut. If that's you, you're not alone. Most business owners get hit with the same surprise. That's because we tend to overvalue effort and underestimate risk. Here's what might be decreasing your business value: The difference between what you hope your business is worth, versus what it is actually worth, is what we call "the value gap'. It's the space between what you think your business is worth and what the market will actually pay. And it brings us to a powerful insight: There's a difference between a valuable business and a sellable one. You might have built something amazing. But if it can't run without you, or if growth has plateaued, buyers see risk and will price accordingly. Action Step: Take an exit-readiness assessment to identify the biggest factors holding your valuation back. Then use that insight to build a roadmap towards your big exit. Question 4. 'Can I Trust Business Brokers to Value My Business?' Short answer: it depends. Here's the reality: Many business brokers make money only when they sell your business. That creates an incentive to inflate the valuation just to win your listing. And while a higher number might feel good at first, it can backfire fast. Deals fall apart. Buyers walk away. Months are lost. Confidence takes a hit. The truth is, overpricing your business doesn't increase your chances of a better sale. It often delays the deal or kills it altogether. Action Step: Always ask brokers to explain their valuation methodology. Better yet, get an independent valuation first, so you walk into those broker conversations with knowledge. Question 5. 'When Should I Start Thinking About Getting a Business Valuation?' Too many owners ask this question when it's already too late. 'I'm not selling yet. Should I still bother?' Yes. And here's why. A business valuation isn't just for those business owners looking to sell their business. It's for smart planners who want options. Your business valuation tells you how much of your net worth is tied up in the business and how liquid it really is. It shows you what your exit might look like. It helps you spot weaknesses before buyers do. But most importantly, it lets you set clear, strategic goals to build wealth before you're burned out or backed into a corner. Think of it like a health check-up. You don't wait for a heart attack to start eating better. You get annual blood work, make small changes, and track improvement. Same with your business. Action Step: Start treating your valuation like a financial KPI. Check it once a year. See how your strategic efforts are shifting the valuation. That's how real wealth is built: on purpose, not by accident. Final Thoughts: Know Your Business Valuation, Own Your Future Business valuation is about numbers and clarity, confidence and control. When you know what your business is worth, and what's holding that valuation back, you shift from guesswork to leadership. You stop reacting and start engineering your big exit. You get to make choices: Grow or sell. Delegate or hire. Automate or pivot. It starts by asking the right questions, and being brave enough to face the answers. Because knowing your business valuation? That's the first step to owning your future.
Forbes
2 hours ago
- Forbes
How AI Empowers Leaders To Make Smarter, Faster Decisions
Igor Fedulov is CEO of Intersog. In 2025, vision and charisma alone no longer define a leader. In an era where markets can shift between morning coffee and the evening commute, success depends on speed, precision and adaptability. The famous lesson often attributed to Darwin has never felt truer: It isn't the strongest or most intelligent species that survives, but the most adaptable to change. Artificial intelligence (AI) won't replace your entrepreneurial spirit or intuition, but it will help empower it. By racing through oceans of data and delivering insights the instant you need them, AI will help modern leaders steer through complexity with clarity and confidence. The Decision Making Revolution Great leaders have always relied on a blend of experience and intuition, but today's world moves too fast for gut calls alone. Data is exploding, and opportunities vanish in days, not weeks. AI flips this challenge into an advantage, turning raw information into instant clarity. Picture a retail CEO gearing up for Black Friday. Instead of sifting through spreadsheets or waiting for a team to crunch the numbers, with AI, the leader can analyze historical sales data, competitor pricing and real-time market trends in minutes. The result is a pricing strategy that's sharp, evidence-based and ready to outpace the competition. This speed translates directly into competitive advantage. Use AI to optimize supply chains, spot customer trends early or catch risks before they spiral. It will free you to focus on the big picture: inspiring your team and driving growth. Your Blueprint For AI Success To lead with AI, you need a game plan. This three-step approach will help you get your business ready: • Audit your data. Great AI starts with great data. Check if your systems are integrated, clean and accessible. If your data's a mess, your insights will be too. • Prioritize impact. Start with AI tools that deliver fast wins. Predictive analytics for demand forecasting or real-time competitor tracking can transform your strategy. For instance, AI can cut inventory costs or reveal pricing gaps in hours. Use these clues as your ticket to leading the market. Test with small pilots to build momentum. • Build the right team. Invest in platforms that scale and people who can use them. Train your crew or hire experts to keep your AI edge sharp. From Instinct To Insight Leadership has always been an art, fueled by intuition. But in a data-driven world, instinct needs a partner. AI bridges that gap, turning that little voice inside into confident calls. Imagine you're eyeing a new market. Old-school research might give you a vague sense of the landscape. AI goes deeper, scanning social media buzz, economic signals and local trends to deliver a crystal-clear picture. You still make the call, but now it's backed by insights that give you an edge. This blend of human spark and AI precision is what will set great leaders apart. Empowering Teams When you use AI to make bold, fast decisions, you set a tone of innovation that inspires everyone. A marketing leader using AI to nail campaign predictions can empower their team to execute with confidence. An operations head streamlining workflows with AI frees up space for creative breakthroughs. The end result is a culture where everyone moves faster and thinks bigger. This dynamic is key. As the collective intelligence of your team grows, you can spend less time micromanaging and more time working on the bigger picture. Keeping AI Honest AI is an incredible ally, but it's not perfect. Here's how you can help ensure your AI tools stay reliable: • Review your data. Regularly check your datasets for accuracy and fairness. Clean, high-quality data is the foundation of trustworthy AI. • Demand transparency. Choose AI systems that explain their logic. This lets you catch and fix any quirks. • Stay in charge. AI can provide insights, but you need to make the final call to ensure that those decisions reflect your company's ethics and goals. For example, a fintech lending company using AI for credit scoring might have a team double-check results to ensure fairness. With these steps, AI becomes a tool you can trust to amplify your leadership, not derail it. Outsmarting The Competition AI can also help you redefine how you compete. You can use it for real-time competitor analysis, predictive market modeling and scenario planning to gain a strategic advantage. Simulate market reactions to a product launch, test pricing and messaging. AI also uncovers hidden edges. By scanning social media, news and earnings reports, it can spot shifts in competitor tactics or customer vibes. If you act on these insights, you can set the pace rather than just keep up with the competition. Measuring The Wins To know your AI investments are paying off, track a few key metrics: • Accuracy: Check how often AI-guided decisions hit the mark, like setting the perfect price point or avoiding supply chain hiccups. • Speed: Measure how much faster you're making decisions, like cutting the time to analyze a new market from weeks to days. • Impact: Look at the big wins AI helps deliver, such as higher revenue, lower costs or happier customers. Take a logistics firm using AI for smarter routes. By measuring fuel savings and delivery times, they can see real ROI. Find your own metrics to see if AI is providing the expected ROI. The Heart Of Leadership Of course, AI isn't a substitute for great leadership. The best outcomes happen when leaders pair AI's power with their own judgment, empathy and vision. AI can crunch numbers and spot trends, but it can't inspire a team through a tough quarter or navigate the nuances of a stakeholder negotiation. As AI is evolving, so too must our approach to leadership. If we see AI more as a partner, not a threat, we can use it to sharpen our instincts and amplify our impact. Let's rethink leadership together and build a legacy that lasts. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Forbes
2 hours ago
- Forbes
The 'Big Beautiful Bill' And The High Cost Of Short-Sighted Fiscal Policy
The Real Waste: Undermining Programs That Work, The Long-Term Costs of Short-Term Budgeting The recent passage of the 'Big Beautiful Bill' has been heralded by its supporters as a triumph for economic growth and a step toward a more efficient government. Yet, a closer look at the numbers and the structure of the legislation reveals a far more troubling reality: the bill's combination of deep cuts to the social safety net and permanent tax reductions for the wealthy is poised to add trillions to the deficit, exacerbate racial and economic disparities and ultimately undermine the very efficiency its backers claim to champion. WASHINGTON, DC - JULY 01: Storm clouds hover over the U.S. Capitol shortly after the Senate passed ... More its version of the One, Big, Beautiful Bill Act on July 01, 2025 in Washington, DC. Republicans in the House of Representatives began their work on the legislation less than two hours after the Senate passed its version. (Photo by) First, consider the bill's fiscal impact. According to the Congressional Budget Office (CBO), the legislation is projected to increase the federal deficit by $3.3 trillion over the next ten years, primarily due to the extension and expansion of tax cuts originally enacted in 2017. This is a staggering figure, especially at a time when the U.S. already faces mounting interest payments and long-term fiscal challenges. While some argue that tax cuts can, under certain conditions, spur economic activity and broaden the tax base, the evidence from the past decade suggests that these particular cuts have failed to deliver on its supporters' promises. Research from the Center on Budget and Policy Priorities indicates that GDP growth stalled, while consumer spending, housing investment, and business investment all slowed. The only thing that did grow? Government current bill's architects have argued that the spending reductions — chiefly, cuts to Medicaid and the Supplemental Nutrition Assistance Program (SNAP) — will offset the cost of the tax cuts and streamline government. In practice, however, these cuts are not only insufficient to balance the budgetary scales, but they also threaten to impose significant downstream costs on society. Nearly 17 million Americans could lose Medicaid coverage under the bill and the coming changes to the Affordable Care Act, and several million could lose access to SNAP. These programs are not mere handouts; they are essential investments in public health and human capital. Medicaid, for example, covers nearly half of all births in the United States and provides critical preventative care for low-income children, seniors, and people with disabilities. SNAP, meanwhile, is widely recognized as one of the most effective anti-poverty programs, reducing food insecurity and improving long-term outcomes for these programs is penny-wise and pound-foolish. Research from the Urban Institute found that states that expanded Medicaid under the Affordable Care Act saw significant reductions in uncompensated care costs and improvements in health outcomes, particularly among communities of color. When people lose access to preventative care, they are more likely to delay treatment, develop chronic conditions, and ultimately require more expensive emergency care, costs that are often shifted to hospitals, states, and ultimately, taxpayers. Similarly, reductions in SNAP benefits are associated with higher rates of food insecurity, poorer educational outcomes for children, and greater reliance on costly emergency food regressive nature of the bill's tax provisions compounds these problems. Analysis by the Yale Budget Lab shows that the bottom 20% of earners would see an average annual income reduction of about $700, or nearly 3% of their income, due to the loss of benefits. By contrast, the top 1% of households would enjoy an average annual tax cut of nearly $30,000, and the top 5% would receive about one-third of the total tax benefits. For the ultra-wealthy, the average tax cut in 2026 is expected to be approximately $300,000. This is not a recipe for broad-based economic growth; it is a transfer of resources from those who need them most to those who need them racial disparities embedded in these changes are particularly troubling. Black Americans, who make up about 14% of the U.S. population, account for 20% of Medicaid enrollees and 27% of SNAP recipients. Latino and Indigenous communities are similarly overrepresented among beneficiaries. Cuts to these programs will disproportionately harm families of color, exacerbating existing gaps in health, education, and economic bill was marketed as a measure to root out waste, fraud, and abuse, but the data suggest that the real waste lies in sacrificing programs with proven long-term benefits for short-term revenue reductions that overwhelmingly favor the wealthy. In response to the bill's passage, the nonpartisan Committee for a Responsible Federal Budget warned that: 'The level of blatant disregard we just witnessed for our nation's fiscal condition and budget process is a failure of responsible governing.' This is not a matter of party over policy, as several House Republicans are also threatening to delay a procedural vote to advance the bill because of concerns over the massive deficit it will the end, the 'Big Beautiful Bill' is a misnomer. Its legacy is instead set to be the creation of a larger deficit, greater inequality, and higher long-term costs for American society. If the goal is a more efficient and effective government, the real path forward lies in preserving—and strengthening—investments in health, nutrition, and opportunities for all Americans, not just the fortunate few.
